Marco Santarelli

APRIL 28, 2024

The banking sector is often seen as a barometer for the broader economy , and the closure of a bank can send ripples through the financial community. In 2024 , the United States witnessed its first bank failure of the year with the closure of Republic First Bank.

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Housing Wire

MARCH 6, 2024

The move strengthens the bank’s balance sheet amid a confidence crisis related to its commercial real estate loan portfolio. A former CEO of OneWest Bank from 2010 and 2015, Otting will become the CEO of NYCB, replacing Alessandro DiNello, who has held the position since Thomas Cangemi stepped down earlier this week.

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Equity Mortgages Banks Commercial 405

Housing Wire

OCTOBER 19, 2022

Although bank capital regulations were updated a decade ago, [current regulations direct] the Federal Home Loan Banks (FHLBs) to use tangible capital in assessing a commercial bank’s creditworthiness for purposes of issuing advances,” the letter reads in part. “In

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Housing Wire

JUNE 22, 2023

Planet has acquired a $10 billion mortgage servicing rights (MSR) bulk of Ginnie Mae loans from Village Capital & Investment LLC. The deal with Village consists of 45,000 home loans securitized by Ginnie Mae. In early May, the company launched a commercial servicing division led by James DePalma and Janina Woods.

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Closing Lending Loans Commercial 369

Housing Wire

FEBRUARY 15, 2024

The nation’s top loan officer Shant Banosian joined the board of directors at Healing Realty Trust , a healthcare-focused real estate investment company. Aiming to take the company public next year, Healing Realty Trust will tap into Banosian’s network of big banks as well as investors to grow its portfolio.

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Housing Wire

JANUARY 31, 2023

NYCB) confirmed it’s closing 69% of the retail home lending offices outside of its branches after acquiring Michigan-based Flagstar Bank. “We We made the strategic decision shortly after the transaction closed to swiftly restructure the business, which occurred in January,” Thomas Cangem, NYCB president and CEO, said in a statement.

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Housing Wire

MARCH 20, 2023

Flagstar Bank , a top-20 U.S. mortgage lender owned by New York Community Bancorp, announced on Sunday that it has assumed most deposits and acquired certain assets, business lines and liabilities of Signature Bridge Bank, N.A. Ultimately, the New York state chartering authority closed the bank on March 12.

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Banks Lending Commercial Loans 370

Housing Wire

APRIL 9, 2024

In a message to mortgage brokers, United Wholesale Mortgage (UWM) defended itself from the Hunterbrook Media report that claims the lender orchestrated a scheme to steer loans. Hunterbrook also claims that borrowers paid in UWM loans a total of $229 million more in closing costs over the past four years than the average-priced loan.

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Fixed-rate mortgage Loans Mortgages Loan Officer 440

Housing Wire

SEPTEMBER 15, 2020

This article was written for FinLedger, HW Media’s new fintech focused news brand designed specifically for financial services professionals in banking, payments, insurance and proptech. Consumer loans such as mortgages and other financial documents require notarization. Register for the FinLedger Daily Newsletter.

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Closing Loans Banks Investor 491

Housing Wire

SEPTEMBER 27, 2023

Maxwell acquired LenderSelect Mortgage Group from Blue Ridge Bank in May to expand its secondary market trading platform, bringing hundreds of new clients to the company’s other solutions. Marvin Chang, Revvin’s chief commercial officer, has stepped down to pursue an opportunity in academia.

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Lending Loan Officer Loans Technology 441

Propmodo

JANUARY 10, 2024

When seeking construction financing for major real estate projects, developers almost always turn to big banks. Large institutional capital has been one of the biggest lenders to commercial development projects over the past decades. Bank OZK has humble roots. In 2019, the bank inked one of its biggest deals.

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Banks Construction Finance Commercial 67

Housing Wire

APRIL 28, 2022

First the market is shifting away from refinance transactions towards purchase and commercial transactions, which is where we have a greater market share. Second, we are the only title company that has a bank which will enable us to capitalize on higher interest rates to a greater extent than our competitors.”.

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Title Commercial Closing Loans 384

Marco Santarelli

MARCH 20, 2023

In this blog post, we will be reviewing the list of failed banks in the United States. It's never good news when we hear about a bank failure , and unfortunately, there have been quite a few in the United States over the years. Banks are an important part of our financial system, but unfortunately, they can fail from time to time.

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Housing Wire

FEBRUARY 3, 2021

Pacific Western Bank , the wholly owned subsidiary of PacWest Bancorp , announced Tuesday it had acquired Civic Financial Services , a private money lender that caters to real estate investors. Pacific Western Bank hailed the acquisition as a strategic move into specialized areas of the non-QM market. It also offers multifamily loans.

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Banks Lending Investor Loans 374

Housing Wire

JULY 27, 2023

Loan production Regarding the origination segment, Pennymac had $24.4 Pennymac’s total loan acquisitions and originations reached $24.9 Pennymac, which has a network of 3,300 approved brokers, said 90% of total originations in this channel during the second quarter were purchase loans. of the loan servicing market, 2.6%

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Banks Principal Loans Commercial 364

Housing Wire

APRIL 14, 2022

A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. Interfirst purchased refinance leads and sent them to Woodward to close. The work was not complex, he said.

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Mortgages Marketing Lending Loans 522

Housing Wire

MAY 8, 2023

Flagstar Bank , a top-25 U.S. In December 2022 , the bank concluded the merger with New York Community Bancorp after waiting for regulatory approvals for over a year. ” Meanwhile, Signature brought in high-net-worth customers and took the loan-to-deposit ratio to less than 90%, strengthening the bank’s balance sheet. .”

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Banks Lending Loans Mortgages 368

Housing Wire

MARCH 14, 2023

However, with the current banking stress news and the emergency action taken by the Fed to secure the banking sector, the question now is what will drive mortgage rates : inflation data, recessionary data, or something else we don’t even see coming? As of the close on Tuesday, the 10-year yield went back to 3.68%.

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Mortgages Banks Commercial Loans 384

Marco Santarelli

NOVEMBER 10, 2023

If you are a customer of Citizens Bank in Sac City, Iowa , you may have been surprised to find out that your bank was closed by the regulators on November 3, 2023. This marked the fifth bank failure in the US this year and the first one in Iowa since 2011. The estimated cost of resolving Citizens Bank is $14.8

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Banks Commercial Lending Loans 52

Housing Wire

MAY 24, 2021

Notable in light of the current servicing challenges facing the industry, Stavvy’s eClosing technology is designed to facilitate faster borrower communication and closings as servicers work through loan modifications, referrals and forbearance. Presented by: Sagent Lending Technologies.

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Land Lending Technology Banks 421

Housing Wire

APRIL 28, 2021

The parent company of Veritex Community Bank will acquire a 49% stake in Texas-based mortgage lender Thrive Mortgage , the firms announced late Tuesday afternoon. The investment is expected to close in the middle of 2021. How lenders will benefit from Proctor Financial’s acquisition of Loan Protector.

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Mortgages Lending Banks Loans 370

Realty Biz

OCTOBER 21, 2023

From navigating traditional mortgage loans to exploring non-conventional options, various financing solutions are available. Additionally, they should assess their creditworthiness and financial stability, as lenders will often consider these factors when approving loan applications.

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Loans Finance Construction Commercial 108

Marco Santarelli

MAY 15, 2023

The commercial real estate market is currently facing a looming crisis that experts predict could surpass the challenges experienced during the 2008 financial downturn. Additionally, with a significant number of commercial mortgages due for refinancing in the coming years, the situation is becoming increasingly precarious.

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Commercial Marketing Lending Banks 64

Marco Santarelli

MARCH 14, 2023

The Impact of Bank Failures on the Housing Market The year 2023 has been marked by a series of bank failures, leaving many to wonder what the impact of these failures will be on the housing market and the wider economy. Bank failures have been a common occurrence throughout history, often causing ripples throughout the economy.

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Banks Lending Finance Commercial 98

Housing Wire

SEPTEMBER 1, 2023

Name Job Title Company Name Aaron Kardell Vice President of Product Lone Wolf Technologies Aayaam Kapoor Vice President of Product and Agency Real Estate Webmasters Amaly Quiroz Vice President of Transaction Operations eXp Realty Amy Gorce CEO REdistribute Andrew Binkley President Constellation Real Estate Group Ankur Bansal President of HomeLight (..)

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Technology Development Title Lending 450

Housing Wire

MARCH 30, 2022

We caught up with Hurst to talk about his new role and why the firm is looking to invest in commercial real estate tech startups and mortgage tech firms. Since we now have good coverage across those segments, our more recent investments have primarily focused in two areas – mortgage technology and commercial real estate.

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Title Mortgages Commercial Technology 370

Housing Wire

DECEMBER 15, 2020

LERETA also offers life-of-loan, basic, and commercial determinations, as well as portfolio reviews. including banks, mortgage lenders, consumer lenders, and auto and equipment finance lenders. including banks, mortgage lenders, consumer lenders, and auto and equipment finance lenders.

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Commercial Lending Loans Banks 241

Housing Wire

SEPTEMBER 29, 2020

These include one that temporarily defers appraisal and evaluation requirements for up to 120 days after the closing of certain residential and commercial real estate transactions, the release said. Announced in April, this rule applies only to loans kept in a bank’s portfolio, and originally alarmed appraisers.

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Commercial Residential Equity Banks 421

Housing Wire

APRIL 14, 2022

Long-term, however, they agree the market will work through the changes and likely wind up better off, assuming the Fed’s so-called quantitative tightening strategy manages to tame runaway inflation and chases off its close cousin, a recession. “It As of January 2022, Fannie’s asset portfolio stood at $108.5

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Marketing Purchase and sale agreement Investor Banks 410

RIS Media

AUGUST 11, 2021

Commercial and multifamily mortgage bankers are expected to close $578 billion of loans backed by income-producing properties in 2021, a 31% increase from 2020’s volume of $442 billion, according to a new forecast released by the Mortgage Bankers Association (MBA). ” Source: MBA.

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Lending Commercial Finance Loans 98

Housing Wire

MAY 14, 2021

Federal Reserve System and served on groups including payment system oversight, reserve bank operations, and supervision and regulation. How lenders will benefit from Proctor Financial’s acquisition of Loan Protector. Presented by: Proctor Loan Protector. Notarize also closed a $35 million Series C funding in March 2020.

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Title Loans Commercial Technology 347

Housing Wire

AUGUST 9, 2022

billion in assets, has a diverse portfolio of residential and commercial real estate assets. A closer look at WMC’s books, however, shows that as of June 30 its residential whole loan portfolio, nearly all of which is comprised of non-QM loans, was underwater by some $44 million. WMC, with some $2.8 The dreaded discount.

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Marketing Bankruptcy Loans Principal 397

Norada Real Estate

MAY 3, 2023

Real estate loans are a crucial part of the real estate industry, providing investors with the necessary funds to purchase, renovate, or refinance properties. From conventional loans to government-backed FHA and VA loans, there are various types of real estate loans available in the market.

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Loans VA loan FHA loan Hard money loan 52

HomeLight

JANUARY 12, 2022

How long does closing take from here? But the time required to process and underwrite the loan will be in large part what dictates the length of your closing. According to the loan software firm ICE Mortgage Technology, it took 50 days on average to close on a purchase loan for a house, as of Q3 2021.

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Closing Purchase and sale agreement Pre-approval Inspection 111

Housing Wire

AUGUST 25, 2022

That has contributed to UWM’s competitors taking losses on loans when they can least afford it. During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans.

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Mortgages Equity Loans Seller concession 397

Housing Wire

MARCH 1, 2023

trillion by the close of 2024. Agency MBS trading activity also “dwarfs the other segments of the market, with $288 billion of daily trading volume,” according to a recent report from the Federal Reserve Bank of New York. By yearend 2023, according to the report, the size of the agency MBS market is projected to jump to $8.9

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Marketing Banks Mortgages Investor 384

Propmodo

NOVEMBER 14, 2023

It was one of the biggest commercial deals of the year, and RXR and its partner financed the acquisition with $1.2 billion in loans from AIG and Morgan Stanley. But late last month, news broke that RXR had closed a modification deal for its $1.2 billion in loans on 1285 Sixth Avenue. It was a long process.”

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Loans Development Banks Investor 44